Asia top stories - weekly summary

01 October 2018 01:00 Source:ICIS News

SINGAPORE (ICIS)--Here are some of the top stories from ICIS Asia and the Middle East for the week ended 28 September.

Asia BD wide buy-sell gap hampers trade amid firm China market
SINGAPORE (ICIS)--Bids and offers in Asia’s butadiene (BD) market were far apart hampering trades in the week, with regional sellers maintaining offers amid firm domestic prices in the key China market.

Asia’s VAM prices still weak, may bottom out ahead of plant shutdowns
SINGAPORE (ICIS)--Asia’s ethylene-based vinyl acetate monomer (VAM) remains soft on ample supply amid tepid demand, but market expects the prices to bottom out soon as a result of more planned shutdowns.

Asia petrochemical trades slow down ahead of China's Golden Week
SINGAPORE (ICIS)--Asia’s petrochemical trades have slowed down as China – a key market in the region – will go on a week-long holiday in October.

Asia etac spikes on strong feedstock acetic acid market
SINGAPORE (ICIS)--Asia’s ethyl acetate (etac) spot discussions were firmer in the week, tracking price spikes in feedstock acetic acid market due to tight supply.

Asia ABS market slow ahead of China holidays
SINGAPORE (ICIS)--Activity in the Asia acrylonitrile-butadiene-styrene (ABS) market has slowed ahead of the National Day holidays in the key Chinese market and demand is not expected to pick up in the near term.

Asia methanol at 3.5-month highs; shrugs off new Iran capacity
SINGAPORE (ICIS)--Asia’s methanol prices have hit their highest level in three-and-a-half months partly on tight inventories at ports in the key China market, with players largely shrugging off a huge capacity that started up in Iran.

China phenol import prices at near four-year high on tight supply
SINGAPORE (ICIS)--China’s phenol import prices are at their highest in nearly four years on the back of tight supply due to a slew of shutdowns at major domestic facilities.

NE Asia propylene hits new 2018 high on tight supply, restocking
SINGAPORE (ICIS)--Spot propylene (C3) prices in northeast Asia hit their highest so far this year on the back of tight supply and some restocking activities in China ahead of its Golden Week holiday.

Asia PVC tumbles to more than 9-month low amid US-China trade war
SINGAPORE (ICIS)--Spot polyvinyl chloride (PVC) prices in northeast Asia fell to their lowest in more than nine months, weighed down by competitively priced US cargoes and uncertainty amid the ongoing US-China trade war.

Asia BD may halt falls as China demand picks up ahead of holidays
SINGAPORE (ICIS)--Asia’s butadiene (BD) spot prices may stop falling as demand from the key China market is expected to pick up ahead of its week-long holiday in October, while supply could tighten if regional producers start exporting cargoes to the US.

China’s gasoline and gasoil stable in mid-Sept, uptick expected
SINGAPORE (ICIS)--China’s gasoline and gasoil prices were largely stable in the week ended 21 September though going forward an increase in prices and an improvement in trading sentiment is expected.

Chinese PET margins to stay squeezed on ample supply
SINGAPORE (ICIS)--China’s polyethylene terephthalate (PET) bottle grade chip margins are likely to stay squeezed while prices will follow the feedstock trend for the rest of the year as supply is expected to remain stable to long.

Asia naphtha jumps to four-month high on crude gains, market unfazed
SINGAPORE (ICIS)--Asia’s naphtha prices touched a four-month high at above $700/tonne in response to high crude oil futures, but a supply overhang will keep the market slightly bearish.

Tough times ahead for Asia PS suppliers to Middle East on volatile SM
SINGAPORE (ICIS)--Asia polystyrene (PS) suppliers to the Middle East may continue to face tough times ahead amid the ongoing volatility of upstream styrene monomer (SM) values.

Asia ACN snaps six-month gains; downside limited by tight supply
SINGAPORE (ICIS)--Asia's acrylonitrile (ACN) prices fell for the first time since end-March, after rising by 16.6% over nearly six months, but further declines will likely be limited as upcoming plant turnarounds will tighten supply.

US-China trade war heightens as new tariffs on $260bn goods hit
SINGAPORE (ICIS)--The US-China trade war escalated as a third round of tariffs involving $260bn worth of goods was implemented on Monday, concerns for which have been rattling Asia’s equities and currency markets.

By Staff Reporter